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Green living impacting housing market

Posted by Mehran Aram on Sun, May 5, 2019 @ 07:05 AM

It used to be a jetted tub or a kitchen island that caught the eye of home buyers but a new analysis shows that having a place to plug in your electric car is a main selling point for some. Realtor.com conducted a study of home values in relation to their proximity to electric-vehicle charging stations and found that homes closer to such stations commanded higher prices.

The study found that the nations most expensive zip codes are also the most accommodating to electric vehicles by volume of charging stations.

“Our data shows there’s definitely a link between the prevalence of electric-vehicle charging stations and higher home prices,” said Danielle Hale, chief economist at Realtor.com. She notes however the difference between correlation and causation saying “wealthier homeowners are more likely to purchase expensive electric vehicles”.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 4.125 percent, 15-year rates are near 3.625 percent and the 5-year ARM is averaging 4.00 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.

Topics: Electric Car, home values, Mortgage rates, Realtor.com, Green Living, Eco Friendly, Charging Stations

ARAMCO Report - Thursday February 19, 2015

Posted by The Aramco Group on Tue, Feb 24, 2015 @ 11:02 AM

According to Realty Trac last year the share of home buyers using low down payment loans plunged to an 11 year low. But the new 3% down payment Fannie Mae and Freddie Mac loans as well as a big reduction in the FHA mortgage insurance premium is expected to boost the numbers for 2015. Meanwhile housing inventory continues to tighten nationwide with total listings year over year, down by 8.7%. Conforming no point 30 year fixed mortgage rates now average 3 7/8ths with 15 year rates closer to 3 1/8th. And now for something completely different… Did you know that owning an electric car in Norway grants you free public parking, free ferry trips, and even the right to drive in bus lanes?

 For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.

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Topics: RealtyTrac, Down Payment, Norway, inventory, Mortgage Insurance Premium, 30 year fixed rates, Fannie Mae, Freddie Mac, Electric Car, FHA, Housing